REGISTERED COMPANY NUMBER: 07843236 (England and Walos) REGISTERED CHARI￿ NUMBER: 1145130 Chorteieo Accotjntants Report of th• Trustsos and Flnancial Stat•m•nts for the Year Ended 31 August 2025 for The Cardlff Phllhamionlc 0￿heStra IA Company Llmltod by Guarantoel Coidrff C￿10 &Jsw5s Po CF23 8A BPU Limited Chartered Accountants Radnor House Greenwo¢)d Close Cardiff Gale Business Park Cardiff CF23 8AA OLLY￿s5oc1￿18sbw Lt Coryonwmurnw 3123948 t)uslness polentiol Un￿O$he(j The Cardiff Philhamionic Orchestra Contents of the Financial Statements for the Year Ended 31 August 2025 Page Report of the Trustees Independent Examinerfs Report Statement of Flnancial Activities Balance Sheet Notès to the Flnanclal Slatoments 9 to 14 Detalled Statement of Flnanclal Activltles 15 to 16 The Cardiff Philharnionic Orchestra Report of the Trustees for the Year Ended 31 August 2025 Thè trustees who are also directors of the chanty for the purposes of the Companies Act 2006, present their report wrth the financial statements of the charity for the year ended 31 August 2025. The Irustees have adopted the provisions of Accounling and Reporting by Chanties.. Statement of Recommended Practice applicable to charities preparing theif accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document The Cardiff Philharmonic Orchestra is controlled by its goveming document, the articles of association, and constitutes a company limited by guarantee, as defined by the Companies Act 2006. and is a registered charrty. Publlc Benellt Delivery* Charitable Purposes and Objectives The Cardiff Philharmoni¢ Orchestra's objects are to advance the education of the public in the appreciation of the art and s¢ience of music in all of its aspects by the presentation of public concerts and recitals and by such other ways as shall be decided from time to time. Organisational Structure The Cardiff Philharmonic Orchestra is controlled by the directors who supervise its activities. The directors met formally ten limes dunng the year. Advice and assistance from players and external advisers are made use of as and when appropriate. Rlsk Management The directors have a duty to identify and review the risks lo which the Cardiff Philharmonic Orchestra is exposed and to ensure that appropnate controls are in place to provide reasonable assurance against fraud and error. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 07843236 (England and Wales) Reglstered Charity number 1145130 Reglstered office Radnor House Greenwood Close Cardiff Gale Business Park Cardiff CF23 8K4 Trustees M Bell MBE L S Robinson M S May (resigned 201612025) P F Randerson J Scott C R Jenkins (appointed 201612025) (resigned 61912025) F Newton (appointed 201612025) The Cardiff Philhamionic Orchestra Report of the Trustees for the Year Ended 31 August 2025 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner John Huw Palin FCA BPU Limited Chartered Accountants Radnor House Greenwood Close Cardiff Gate Business Park Cardiff CF23 8A4 The Cardiff Philharnionic OrGhestra Report of the Trustees for the Year Ended 31 August 2025 ACTIVITIES AND FINANCIAL OVERVIEW Activities During the financial year the Cardiff Philhamionic Orchestra gave five concerts. Two concerts were given in Llandaff Cathedral. Film Night Concerts were given at Blackwood Miners, Instilule and the New Theatre, Cardiff., and one concert was given at Hoddinott Hall, Cardiff. The CPO also recorded tracks for the S4C children's programme Dreigiau Cadi. Financial Perfonnance A surplus of £8,948 was recorded during the year {2024.' surplus £55,391). Total incoming resources for the year were £37,996 (2024.. £87,983), of which £2,292 {2024.' £51,559) related to the Claire Frankcom Fund for Young Soloists. Reserves PoliGy The directors seek to maintain a level of reserves that ￿￿11 provide financial support for a minimum of len orchestral concerts. Investment Pollcy and Objectlves Cardiff Philharmonic Orchestra invests surplus funds for the short to medium t8mi on the besl terms available for the period of time for which the funds are available. RISK ASSESSMENT Any perceived risks are considered at the regular Board meetings and any necessary actions are then implemented to reduce the risk areas of grealesl concem. FUTURE PLANS The orchestra continues to assess opportunities for expanding the range and number of its concerts. In the current financial year concerts have or wll be held in Nealh and Llanelli in addition to ils normal venues. The orchestra also looks forward to returning io St. David's Hall when it reopens. hopefully in 2027. THE CLAIRE FRANKCOM FUND FOR YOUNG SOLOISTS (CFFYS) In October 2023 Claire Frankcom's aunt. Miss Gwyneth Lewis, provided an endowment of £50,000 to the orchestra to establish the Claire Frankcom Fund for Young Soloists. The fund is lo be used to provide funding to engage young soloists for concerts presented by the Cardiff Philharmonic Orchestra. The Fund was used in June 2025 to support the Welsh harpist, Ben Creighton-Grrffiths, when Ben perfomied his Con￿rt0 for Jazz Harp and Symphony Orchestra with the CPO at Hoddinott Hall. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of The Cardiff Philhamionic Orchestra for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}. Th8 Cardiff Phllhamionlc Orchestra Report of the Trustees for the Year Ended 31 August 2025 STATEMENT OF TRUSTEES, RESPONSIBILITIES - contlnued Company law r8quir8S the tNst8es to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the fsnancial statements in accordance wth United lQngdom Generally Accepted Accounting Practi￿ (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financAal statèm8nts unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the ¢haritabl8 company for that Period. In preparing those financial statements, the trustees are required to select suttable accountlng policies and then apply them consi8t8ntly: observe the methods and principles in the Charities SORP., make judgements and estimales that are ￿asOnable and prudent., prepare the financial statements on the going concem basis unle88 It is inappropriate ta presume that the charitable company VAII continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply y￿th the Companies Act 2006. They are al80 responsible for safeguarding the assels of the charitable company and hence for taking r8asonabl8 Steps for the prevention and detection of fraud and other irregularitl88. Approved by order of the board of trustees on behalf by.. and signed on it8 L S Robinson - Trustee Independent Examinerfs Report to the Trustees of The Cardiff Philhamionic Orchestra Independent examinerfs rèport to tho trust￿ of Tha Cardlff Philharnionic Orchestra {'the Company.) I report to the charity trustees on my examination of the accounts of the Company for th8 year ended 31 August 2025. Chartered Accountants Responsibiliti08 and basis of report As the charity's trustees of the Company {and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'l. Having satisfied myself that the accounts of the Company are not requir8d lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carri8d out undar Section 145 of the Charities Act 2011 {'the 2011 Act'}. In carrying out my examination I have followed the Diredions given by the Charity Commission under Section 145(51 (bl of the 2011 Acl. Indepondènt Oxamlner's statement I have completed my èxamination. I confirm that no matters have come to my attention in connection with the examination giving me cause to b81ieve: accounting records were not kept in respect of the Company as required by Section 386 of Ihe 2006 Act,. or tha accounts do not accord wilh thos8 records.. or the a¢counts do not comply with the a¢¢ounling requirements of Section 396 of the 2006 Acl other than any requirement that the accounts giv8 a tru8 and fair view which is not a matter considered as part of an independent examination., or Ihe 8¢count8 have not been prepared in a¢¢ordance with the methods and principles of the Statement of Recommended Practic8 for accounting and reporting by charities {applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in th8 UK and Republic of Ireland (FRS 102)). Cuclm Gote BUSAr￿ Fl) C(yJif CF23 W I have no Concems and have come across no other matters in connection with the examination to which attention should be dravm in this report in order to enable proper understanding of the a¢¢ounts to be reached. John Huw Palin FCA BPU Limited Chartered Accountants LOLG wrvrnofWLtd buslness potentiol unleoshed The Cardiff Philharnionic Orchestra Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 August 2025 2025 Total funds 2024 Total funds Unrestricted Restricted fund fund Notes INCOME AND ENDOWMENTS FROM Charilable activities Charitable activities 33,545 33,545 84,722 Investment income 2,159 2,292 4,451 3.261 Total 35,704 2,292 37,996 87.983 EXPENDITURE ON Costs of generating funds 29.048 29,048 32,592 NET INCOME Transfers between funds 6.656 500 2,292 {500) 8.948 55,391 10 Net movement in funds 7.156 1,792 55,391 RECONCILIATION OF FUNDS Total funds brought lo￿ard 60,304 50,619 110,923 55,532 TOTAL FUNDS CARRIED FORWARD 67,460 52,411 119.871 110,923 The notes fom) part of these financial statements The Cardiff Philharnionic Orchestra Balance Sheet 31 August 2025 2025 Total funds 2024 Total funds Unrestricted Restricted fund fund Notes FIXED ASSETS Investments 36,633 36,633 35,000 CURRENT ASSETS Debtors Investments Cash at bank 4,351 46,628 21,960 1,230 10.434 4.114 5,581 57,062 26,074 5,615 45,000 30,921 72.939 15,778 88.717 81,536 CREDITORS Amounts falling due within one year (5.4791 (5.4791 (5,613) NET CURRENT ASSETS 67,460 15,778 83.238 75,923 TOTAL ASSETS LESS CURRENT LIABILITIES 67,460 52.411 119,871 110,923 NET ASSETS 67,460 52,411 119.871 110,923 FUNDS Unrestricted funds Restricted funds 10 67,460 52,411 60,304 50,619 TOTAL FUNDS 119,871 110,923 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025. The members have not required the company to obtain an audit of rts financial ststements for the year ended 31 August 2025 in accordance wth Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for la} ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and Ibl preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of rts surplus or deficit for each financial year in accordan￿ wth the requirements of Sections 394 and 395 and which otherwise comply wth the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company_ The notes form part of these financial statements The Cardiff Philhamionic Orchestra Balance Sheet - continued 31 August 2025 These fjnancial statements have been prepared in accordance ￿￿th the provisions applicable to charitable companies subject to the small companies ￿gime. The financial statements were approved by the Board of Trustees and authorised for issu8 on 3.